Travel and Tourism Deal Activity Rose in October

The global travel and tourism sector attracted 22% more deals in October over the previous month.

A total of 72 agreements, comprising mergers and acquisitions, private equity and venture financing, were announced against 59 in September, according to data and analytics company GlobeData.

Venture financing and M&A deals announced in October increased by 61.5% and 33.3% respectively compared to the previous month, while the number of private equity deals declined by 31.3%.

GlobeData lead analyst Aurojyoti Bose said: “This is the second consecutive month of growth in deal activity for the sector.

“As several countries have eased travel restrictions and Covid-19 booster jabs are being rolled out, deal-making sentiments for the sector appear to be improving.

“However, a surge in Covid-19 cases in some of the key markets may pose further challenges and dent investor sentiment in the coming months.”

“Deal activity improved in key markets such as the US, Australia, Japan, France and South Korea during October compared to the previous month, while markets such as China and India witnessed a decline in deal activity”, Bose added.

Source: Travelweekly